India Bicycle Market Outlook, 2027-28

India Bicycle Market to grow with a CAGR of over 14% by 2026. The standard bicycle hold a share of over 50%.

Featured Companies

  • 1. ATLAS CYCLES (HARYANA) LIMITED
  • 2. Avon Cycles Limited
  • 3. Firefox Bikes Private Limited
  • 4. Hero Cycles Limited
  • 5. Naren International
  • 6. Starkenn Sports Private Limited
  • More...

Bicycles have been a major vehicle for personal transport for decades. As technology has advanced, the bicycle trend in India has decreased among the middle and highly-earned, but the importance of this trend returns due to fitness and adventure biking priorities. Growing congestion, industrialization, and sustainability are pushing rising cycling demand in India. Even though the cycle is a primary mode of transport & income source for a considerable number of Indians, the industry relies heavily on imports. According to the report- India Bicycle Market Outlook, 2027-28 published by Bonafide Research, the market was recorded at a value of INR 5565.65 Cr., in the year 2016-17. Besides being a mode of transport, a cycle is now considered a popular form of recreation, thus growing from regular roadster cycles to multi-gear super-premium cycles. Acceptance of the cycle as a sustainable form of commutates and increasing interest in professional cycling are expected to allow the market to grow with a CAGR of over 17% during the forecasted period. India was the fourth largest producer of bicycles after China, the USA, and Japan from 1978 to 1991. It outsmarted the USA and Japan in 1992 to become the second-largest producer of bicycles in the world. The cycle market has a domination of fancy bicycles, considered a part of young teenagers' daily life. The standard bicycles hold a share of over 60%, in volume hugely derived through the demand from the government towards the welfare schemes. Currently focusing on the eastern region, the least contributing region is expected to show a marginal change in the value share over the forecasted period, reaching a share of less than 17%.

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Being an inevitable part of rural India, the region's highest share of approximately 65% in volume terms is gained. The standard bicycles hold the highest share among the others, while the fancy cycles are slowly making their way to the market, with an increase in the affordability of the same. The standard full-size wheel rim of 26 inches holds the highest share in terms of both value and volume. Even though considered obsolete by many, the segment held an eminent share of more than half of the market during the period 2021-22. In terms of Gear and Gearless Bicycle, Gearless Bicycle is dominating the market with a market share of more than 80% in both value & volume terms. During the forecast period, the market of Gear Bicycle is expected to reach around 27% in value terms which are currently around 17% means a growth of 10% during the forecast period. The reason for the market growth of gear bicycles is constant innovation, increasing craze among children, etc. COVID-19 IMPACT Like many other countries around the world, India imposed a national lockdown. Covid-19 impacted the industry mostly in terms of revenue, as April, May, and June are considered the best months for sales. The pandemic has disrupted the entire supply chain. The situation deteriorated due to a labor shortage. However, after the lockdown ended, it is expected to recover well due to growing concern for environmental issues. The pandemic has benefited the bicycle industry. People and the government are becoming more aware of Mother Earth's protection as a result of environmental improvements seen during the lockdown. In addition, Prime Minister Narendra Modi's slogan, "Vocal for Local," gives Indian manufacturers an advantage. However, due to a labor shortage and delays in importing special gear from overseas markets, the cycling industry is unable to meet demand. The key domestic players in the bicycle industry are Hero Cycles, Avon Cycles, TI Cycles, Atlas, Firefox Cycles, and Starkenn Sports. The top two players together make up approximately 40% of the market revenues. The bicycle companies are focusing on this niche but growing segment of recreational bicycles.

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Manmayi Raval

Manmayi Raval

Research Consultant

Companies mentioned: Atlas Cycles Limited, Avon Cycles Limited, Decathlon Sports India Private Limited, Firefox Bikes Private Limited, Hero Cycles Limited, Hero Ecotech Limited, Milton Cycles Industries Limited, Naren international (Suncross Bikes), S.K. Bikes Private Limited, Starkenn Sports Private Limited, Trek Bicycle India Private Limited, Tube Investments of India Limited, Vishal Cycles Private Limited Considered in this report: • Geography: India • Base year: 2021-22 • Estimated year: 2022-23 • Forecast year: 2027-28 The report gives an in-depth understanding of the bicycle market in India: - India Bicycle Market Outlook - India Standard/ Mass Bicycle Market - India Fancy Bicycle Market - India Kids Bicycle Market - India Premium Bicycle Market - India Super-premium Bicycle Market - Product Price & Variant Analysis - Market Dynamics (Trends and Challenges) - Competitive Landscape & Strategic Recommendations

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Manmayi Raval

The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended Audience This report can be useful to Industry consultants, manufacturers, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Keywords: Bicycle industry, urban area, livelihoods, COVID-19, Engineering exports, industry, economy, Gear Bicycle, Gearless Bicycle, Hero Cycles, TI Cycles, Avon, Atlas, Firefox Bikes, Starkenn Sports

Companies Mentioned

  • ATLAS CYCLES (HARYANA) LIMITED
  • Avon Cycles Limited
  • Firefox Bikes Private Limited
  • Hero Cycles Limited
  • Naren International
  • Starkenn Sports Private Limited
  • Tube Investments of India Limited
  • Hero Ecotech Limited
  • Milton Cycles Industries Limited
  • S.K. Bikes Private Limited
  • Trek Bicycle India Private Limited
  • Vishal Cycles Private Limited

Table of Contents

  • Table of Content
  • 1. Executive Summary
  • 2. Market Structure
  • 2.1. Market Considerate
  • 2.2. Assumptions
  • 2.3. Limitations
  • 2.4. Abbreviations
  • 2.5. Sources
  • 2.6. Definitions
  • 2.7. India Macro Economic Indicators
  • 2.8. Demographics Insight
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. India Bicycle Market Outlook
  • 4.1. Market Size
  • 4.1.1. By Value
  • 4.1.2. By Volume
  • 4.2. Market Share
  • 4.2.1. By Category
  • 4.2.2. By Rim Size
  • 4.2.3. By Type
  • 4.2.4. By End User
  • 4.2.5. By Region
  • 4.2.6. By Demographics
  • 4.2.7. By Tier
  • 4.2.8. By Company
  • 4.3. India Standard Bicycle Market
  • 4.3.1. Market Size
  • 4.3.1.1. By Value
  • 4.3.1.2. By Volume
  • 4.3.2. Market Share
  • 4.3.2.1. By Rim Size
  • 4.3.2.2. By Demographics
  • 4.3.2.3. By Tier
  • 4.4. India Fancy Bicycle Market
  • 4.4.1. Market Size
  • 4.4.1.1. By Value
  • 4.4.1.2. By Volume
  • 4.4.2. Market Share
  • 4.4.2.1. By Category
  • 4.4.2.2. By Rim Size
  • 4.4.3. By Type
  • 4.4.3.1. By Demographics
  • 4.4.3.2. By Tier
  • 4.5. India Kids Bicycle Market
  • 4.5.1. Market Size
  • 4.5.1.1. By Value
  • 4.5.1.2. By Volume
  • 4.5.2. Market Share
  • 4.5.2.1. By Rim Size
  • 4.5.2.2. By Type
  • 4.5.2.3. By Demographics
  • 4.5.2.4. By Tier
  • 4.6. India Premium Bicycle Market
  • 4.6.1. Market Size
  • 4.6.1.1. By Value
  • 4.6.1.2. By Volume
  • 4.6.2. Market Share
  • 4.6.2.1. By Rim Size
  • 4.6.2.2. By Type
  • 4.6.2.3. By Demographics
  • 4.6.2.4. By Tier
  • 4.7. India Super Premium Bicycle Market
  • 4.7.1. Market Size
  • 4.7.1.1. By Value
  • 4.7.1.2. By Volume
  • 4.7.2. Market Share
  • 4.7.2.1. By Rim Size
  • 4.7.2.2. By Type
  • 4.7.2.3. By Tier
  • 5. Product Price & Variant Analysis
  • 6. Manufacturing Process
  • 7. Pest Analysis
  • 8. Trade Dynamics
  • 8.1. Import
  • 8.2. Export
  • 9. Channel Partner Analysis
  • 10. Policy & Regulatory Framework
  • 11. Raw Material Analysis
  • 12. Market Dynamics
  • 12.1. Drivers
  • 12.2. Challenges
  • 13. Market Trends & Developments
  • 13.1. Development in Infrastructure
  • 13.2. Premiumization in the Bicycle Industry
  • 13.3. Entry of Global Players
  • 13.4. Promotional Activities by Leading Players
  • 13.5. Comfort Enhancement by Redesigning
  • 14. Competitive Landscape
  • 14.1. Porter's Five Forces
  • 14.2. Company Profile
  • 14.2.1. Atlas Cycles Limited
  • 14.2.1.1. Company Snapshot
  • 14.2.1.2. Company Overview
  • 14.2.1.3. Financial Highlights
  • 14.2.1.4. Geographic Insights
  • 14.2.1.5. Business Segment & Performance
  • 14.2.1.6. Product Portfolio
  • 14.2.1.7. Key Executives
  • 14.2.1.8. Strategic Moves & Developments
  • 14.2.2. Avon Cycles Limited
  • 14.2.3. Firefox Bikes Private Limited
  • 14.2.4. Hero Cycles Limited
  • 14.2.5. Hero Ecotech Limited
  • 14.2.6. Milton Cycles Private Limited
  • 14.2.7. Naren International (Suncross Bikes)
  • 14.2.8. S. K. Bikes Private Limited
  • 14.2.9. Starkenn Sports Private Limited
  • 14.2.10. Trek Bicycle India Private Limited
  • 14.2.11. Tube Investments of India Limited
  • 14.2.12. Vishal Cycles Privates Limited
  • 15. Strategic Recommendations
  • 16. Disclaimer

List of Table
Table 1: India Tier-wise Classification of Cities
Table 2: India Region-wise Classification of Cities
Table 3: India Bicycle Market Share and Forecast By Category (2016-17, 2021-22 & 2027-28F)
Table 4: India Bicycle Market Share and Forecast By Rim Size (2016-17, 2021-22 & 2027-28F)
Table 5: India Bicycle Market Share and Forecast By Type (2016-17, 2021-22 & 2027-28F)
Table 6: India Bicycle Market Share and Forecast By End User (2016-17, 2021-22 & 2027-28F)
Table 7: India Bicycle Market Share and Forecast By Region (2016-17, 2021-22 & 2027-28F)
Table 8: India Bicycle Market Share and Forecast By Demographics (2016-17, 2021-22 & 2027-28F)
Table 9: India Bicycle Market Share and Forecast By Tier (2016-17, 2021-22 & 2027-28F)
Table 10: India Bicycle Market Share and Forecast By Company (2016-17, 2021-22 & 2027-28F)
Table 11: India Standard Bicycle Market Share and Forecast By Rim Size (2016-17, 2021-22 & 2027-28F)
Table 12: India Standard Bicycle Market Share and Forecast By Demographics (2016-17, 2021-22 & 2027-28F)
Table 13: India Standard Bicycle Market Share and Forecast By Tier (2016-17, 2021-22 & 2027-28F)
Table 14: India Fancy Bicycle Market Share and Forecast By Category (2016-17, 2021-22 & 2027-28F)
Table 15: India Fancy Bicycle Market Share and Forecast By Rim Size (2016-17, 2021-22 & 2027-28F)
Table 16: India Fancy Bicycle Market Share and Forecast By Type (2016-17, 2021-22 & 2027-28F)
Table 17: India Fancy Bicycle Market Share and Forecast By Demographics (2016-17, 2021-22 & 2027-28F)
Table 18: India Fancy Bicycle Market Share and Forecast By Tier (2016-17, 2021-22 & 2027-28F)
Table 19: India Kids Bicycle Market Share and Forecast By Rim Size (2016-17, 2021-22 & 2027-28F)
Table 20: India Kids Bicycle Market Share and Forecast By Type (2016-17, 2021-22 & 2027-28F)
Table 21: India Kids Bicycle Market Share and Forecast By Demographics (2016-17, 2021-22 & 2027-28F)
Table 22: India Kids Bicycle Market Share and Forecast By Tier (2016-17, 2021-22 & 2027-28F)
Table 23: India Premium Bicycle Market Share and Forecast By Rim Size (2016-17, 2021-22 & 2027-28F)
Table 24: India Premium Bicycle Market Share and Forecast By Type (2016-17, 2021-22 & 2027-28F)
Table 25: India Premium Bicycle Market Share and Forecast By Demographics (2016-17, 2021-22 & 2027-28F)
Table 26: India Kids Bicycle Market Share and Forecast By Tier (2016-17, 2021-22 & 2027-28F)
Table 27: India Super Premium Bicycle Market Share and Forecast By Rim Size (2016-17, 2021-22 & 2027-28F)
Table 28: India Super Premium Bicycle Market Share and Forecast By Type (2016-17, 2021-22 & 2027-28F)
Table 29: India Super Premium Bicycle Market Share and Forecast By Tier (2016-17, 2021-22 & 2027-28F)
Table 30: HS Code for Bicycle Products in India 2021-22
Table 31: Import Duty Structure for HS Code XXXX in India 2021-22
Table 32: Import of HS Code XXXX in India - Value & Volume 2016-17 to 2021-22
Table 33: Import of HS Code XXXX in India - By Country By Value & Volume Share 2021-22
Table 34: Export of HS Code XXXX in India - Value & Volume 2016-17 to 2021-22
Table 35: Export of HS Code XXXX in India - By Country By Value & Volume Share 2021-22

List of Figures
Figure 1: India Population 2017-2021(In Crore)
Figure 2: India Population Age Structure (EST. 2019)
Figure 3: India Urban VS Rural (Crore)
Figure 4: India Bicycle Market Size By Value 2016-17, 2021-22 & 2027-28F (in INR Crore)
Figure 5: India Bicycle Market Size By Volume 2016-17, 2021-22 & 2027-28F (in Mn. Units)
Figure 6: India Standard Bicycle Market Size By Value 2016-17, 2021-22 & 2027-28F (in INR Crore)
Figure 7: India Standard Bicycle Market Size By Volume 2016-17, 2021-22 & 2027-28F (in Mn. Units)
Figure 8: India Fancy Bicycle Market Size By Value 2016-17, 2021-22 & 2027-28F (in INR Crore)
Figure 9: India Fancy Bicycle Market Size By Volume 2016-17, 2021-22 & 2027-28F (in Mn. Units)
Figure 10: India Kids Bicycle Market Size By Value 2016-17, 2021-22 & 2027-28F (in INR Crore)
Figure 11: India Kids Bicycle Market Size By Volume 2016-17, 2021-22 & 2027-28F (in Mn. Units)
Figure 12: India Premium Bicycle Market Size By Value 2016-17, 2021-22 & 2027-28F (in INR Crore)
Figure 13: India Premium Bicycle Market Size By Volume 2016-17, 2021-22 & 2027-28F (in Mn. Units)
Figure 14: India Premium Bicycle Market Size By Value 2016-17, 2021-22 & 2027-28F (in INR Crore)
Figure 15: India Premium Bicycle Market Size By Volume 2016-17, 2021-22 & 2027-28F (in Mn. Units)
Figure 16: Porter's Five Forces of India Bicycle Market

Feed Phosphate Market Research FAQs

India Bicycle Market was valued at INR 5020 Cr in 2014-15

The India Bicycle Market is likely to grow with an anticipated CAGR of over 14%.

The standard cycle segment hold to more than 50% of the market

The rural population of India contributes highest to the market

Hero Cycles, Avon Cycles, TI Cycles, Atlas, Firefox Cycles, and Starkenn Sports

The expected CAGR of the India Bicycle Market is over 17% during the forecast period.

The Market Size was INR 5565.65 Cr.the India Bicycle Market in value terms in the year 2016-17.

The Market share of standard bicycles in terms of Volume is over 60%.

Eastern Region contributes the least to the Indian Bicycle Market. It is expected to reach a share of less than 17% during the forecast period.

The key domestic players in the bicycle industry are Hero Cycles, Avon Cycles, TI Cycles, Atlas, Firefox Cycles, and Starkenn Sports.
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India Bicycle Market Outlook, 2027-28

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